Innovation Program

Innovation spans many facets and connects several areas of life. More formal models of innovation – particularly applied to business and industry – have been developing over the last two generations. Today, innovation is seen as an imperative for both the new venture and the established business, as product and business life cycles shrink and competition increases. 

This program introduces UTSC students to the nature and elements of innovation and explores the application of innovation to various stages of business evolution and to different business sectors. There is a significant practical component, as groups of students will be tasked with providing an innovation plan for a real company.

Entrepreneurship and innovation are different concepts. Most entrepreneurial initiatives begin with an innovation. An innovation is something that is new. But it is useful to hear what great thinkers on the subject have to say about the broader concept of innovation, and how it applies to the economy and to individual businesses. 

This program includes the following elements: 

• An Introduction to Innovation and various Models of Innovation 
• Modules:
  • Opportunity Analysis
  • Service Analysis and Design
  • Product Analysis and Design
  • Customer Engagement
• Industry Tours
• Intellectual Property Capture and Monetization
• Application/Solution Assessment